Kazakhs Still On Board at Batumi Oil Terminal

Batumi Oil Terminal (BOT), owned by Greenoak Group, denied on June 19 reports about its Kazakh partner KazTransOil?s plans to quit business in Georgia.

A news agency, GeoHotNews (GHN), quoted, on June 18, Jan Bonde Nielsen, Chairman of BOT, as saying that KazTransOil might pull out from Georgia because of potential financial losses.

Nielsen, however, said in a statement on June 19 that he had ?not talked with a journalist from GHN news agency? and ?the information reported by GHN is not true.?

KazTransOil is a subsidiary of the Kazakh state-run KazMunaiGas. The company, in partnership with the Greenoak Group, the owner of BOT, is building a new oil refinery in Batumi.

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